Dividend Stickiness and Strategic Pooling

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Dividends as Reference Points: A Behavioral Signaling Approach (2015, background): “The form of the partial pooling equilibrium is not dissimilar to that in Guttman et al. (2010), though the nature of the signaling mechanism is quite different, and perhaps more importantly, in our approach it is clear why dividends pool at the prior period’s level as opposed to some arbitrary…”
A Lintner Model of Payout and Managerial Rents (2012, unknown): “Guttman, Kadan, and Kandel (2010) and Leary and Michaely (2011) survey research on dividend smoothing.”